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2022-071 Resolution Of The Township Of Lakewood, County Of Ocean, State Of New Jersey Authorizing A Revised Spending Plan For Low Income Housing | |
| | | | | | | | WHEREAS, on January 17, 2018, pursuant to In re N.J.A.C. 5:96 and 5:97, 221 N.J. 1 (2015) (Mount Laurel IV), the Township of Lakewood (“Township”) filed a Declaratory Judgment Complaint in the Ocean County Superior Court, Law Division, (the “Declaratory Judgment Action”) seeking approval of a municipal development fee ordinance and spending plan; and
WHEREAS, the Township views said spending plan as a necessary tool to provide affordable housing to the residents of Lakewood by using the funds collected by said development fee ordinance; and
WHEREAS, the Court has approved the Township’s development fee ordinance and spending plan by an Order of April 13, 2020; and
WHEREAS, the development fees collected have significantly exceeded the amounts projected in the Approved Spending Plan; and
WHEREAS, the New Jersey Hand (“NJH”) is a non-profit entity whose mission is to provide affordable housing within the Township of Lakewood; and
WHEREAS, the Township there are sufficient funds within the Township’s Affordable Housing Trust Fund (“Trust”) to provide NJH two million dollars from the Trust as well as providing additional funding for all other programs related to support of affordable housing as set forth in the Revised Spending Plan [Ex. A], including revisions to the Affordability Manual, which is included and made a part of the Revised Spending Plan, to be approved by the Court ; and
WHEREAS, NJH has agreed to accept the funds in accordance with the terms of the Lakewood Commons Phase VI Funding Agreement, annexed hereto as Exhibit B; and
whereby Lakewood is to donate and conveyed to NJH the aforesaid funds for the exclusive purpose of reducing the cost to qualified buyers of 22 units of housing for citizens of low income in accordance with the Fair Housing Act and applicable regulations; and
WHEREAS, the proposed Revised Spending Plan, including the expenditure of $2,000,000.00 from Lakewood’s Affordable Housing Trust Fund to NJH has been approved by the Fair Share Housing Center; and
WHEREAS, the Township Committee is of the opinion that the Revised Spending Plan, including the allocation of funds to NJH is in the best interest of the residents of Lakewood in that it will help to provide affordable housing and, that the Agreement shall be executed..
NOW, THEREFORE, BE IT RESOLVED by the Township Committee of the Township of Lakewood, in the County of Ocean, State of New Jersey as follows:
1. The Township Committee hereby approves the Revised Spending Plan, including the amended Affordability Assistance Manual.
2. The Township Committee hereby authorizes the Mayor and Township Clerk to execute the Lakewood Commons Phase VI Funding Agreement attached hereto approving the appropriation from its Affordable Housing Trust Fund in an amount not to exceed $2,000,000.
3. The Township Committee confirms that all funds expended shall be for the sole purpose of promoting and providing affordable housing within the Township and that the use of Affordable Housing Trust Fund monies is consistent with applicable laws and regulations.
4. The Township Clerk is hereby directed to record the fully executed Lakewood Commons Phase VI Funding Agreement with the Ocean County Clerk’s Office. Once recorded, the Township Clerk is directed to send a recorded copy to NJH and to the Township Attorney for his records.
5. The Township’s Special Counsel shall apply to the Superior Court of Ocean County for approval of the Revised Spending Plan, which shall become effective upon approval by the Court.
6. This Resolution shall take effect immediately.
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| | | | | | | | CERTIFICATION
I, Lauren Kirkman, Township Clerk of the Township of Lakewood, do hereby
certify that the above is a true copy of a Resolution duly adopted by the Township Committee
of the Township of Lakewood in the County of Ocean, at its meeting held on January 13, 2022.
Lauren Kirkman RMC, CMR
Township Clerk
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